Today RSA Insurance Group Plc. announced its 2020 interim results.
- Group total underwriting profit £240m (+33% vs H1 2019)
- Net written premiums (‘NWP’) of £3,136m, down 3% vs. H1 2019
- Group combined ratio 92.2% (Scandinavia 83.2%; Canada 93.2%; UK & International 93.6%)
Stephen Hester, RSA Group Chief Executive, commented:
“RSA is reporting good growth in underwriting profits for the first half from continued business improvement actions. COVID-19 impacts on operating profits were broadly neutral in H1, though related financial market charges reduced our statutory results.
Each region of RSA contributed in line or better than our plans, driven by improved attritional loss ratios. We are pleased with progress towards our “best in class” ambitions, and the underwriting performance which is a first half record for RSA.
COVID-19 has dominated recent months. Uncertain times put a special premium on sustaining customer service whilst operating safely and securely for our people and other stakeholders. This has been our focus and will remain so over the rest of the year. The recovery path from the pandemic itself is not yet certain, as well as its human and economic consequences. Nevertheless, we see good prospects for RSA remaining resilient and emerging strongly from this period.”